Kolkata, Dec 10: The Godrej Group is keen on acquisitions overseas, its Chairman, Adi Godrej said. According to him, the Group will look at a CAGR of 26 per cent; with a focus on organic and inorganic growth. Inorganic growth would refer to acquisitions. Realty and FMCG would be propelling growth in the coming days. \"We intend to grow at a compounded annual growth rate of 26 per cent in the coming years. growth will come both organically and inorganically through acquisitions. We are also exploring more acquisitions overseas,\" he told reporters during a media interaction late yesterday evening. The Group\'s consumer division - Godrej Consumer Products Ltd (GCPL) - recently announced that it would acquire a 100 per cent stake in African hair care company Darling Group. In June 2011, GCPL had acquired a 51 per cent in Darling Group. Announcement for acquiring the remaining 49 per cent was made earlier this year.
Land Ceiling Act Calling the Urban Land Ceiling Act - which was still in force here in West Bengal - as \"antiquated\", Adi Godrej said the State government must take steps to do away with the legislation. \"The Bengal government should do away with the Urban Land Ceiling Act. Many States have done away with this antiquated legislation. It is not a good thing to continue with the Act,\" he said.
Investment In Bengal According to Adi Godrej, the Group was keen to invest in new residential projects on Kolkata; apart from expansion of its animal feed plant. He, however, did not mention the amount of investment to be made across the realty and agro-vet projects. Two new residential projects are likely to take shape in the coming days. The realty division of the Group has four projects that include some upcoming ones here in Kolkata and its outskirts. It also has an animal feed plant (through Godrej Agrovet) in Kharagpur, some 130 kms from the city. \"Right now there is more demand for residential property here on Kolkata. As economic activity picks ups and the IT scenario (in Bengal) improves we might go in for commercial projects here,\" he said.